Prognosis
Merck Lifts Forecast as Covid Recovery Helps Quarterly Sales
- Keytruda for cancer, Gardasil shot beat revenue expectations
- CEO says the company is evaluating various possible deals
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Merck & Co. raised its 2022 revenue and earnings forecast as recovery from the global pandemic helped third-quarter sales of its leading cancer drug, Keytruda, and other products beat estimates.
The drugmaker said Thursday it expects full-year revenue of $58.5 billion to $59 billion and adjusted earnings of $7.32 to $7.37 a share. It had previously forecast sales of $57.5 billion to $58.5 billion and adjusted earnings of $7.25 to $7.35 a share. At 9:38 a.m. in New York, Merck shares rose 2.6% to $100.93.